Obama Wants To Give Americans $3000 For a Thingamajig [Video]
In promoting his plan to give small business owners a $3,000 dollar per year tax break, President Obama told an audience in Minnesota that it could enable someone to buy that thingamajig for their furnace that they may not have originally been able to afford. The President was highlighting a part of his overall jobs bill as a way to spur hiring.
President Obama said,
“There are some folks out there who could use $3,000 per year. Let’s get that done right now. If you had an extra $3,000 per year, it helps you pay down your credit cards, you could go out and buy some things that your family needs. Which is good for business. Maybe someone will be buying that uh thingamajig for their furnace. “
The President was highlighting the aspects of his jobs plan that the Republican Congress and him already see eye to eye on. He wants to pass those parts of the plan, while leaving the more controversial parts of the plan to be debated on later. The Republicans have been hesitant to go along with those parts of the plan they agree on for fear that without offsetting spending cuts they will have to cross their constituents by adding to the deficit.
The part of the plan that the President was referring to specifically in his speech was a $3,000 tax credit he wants to enact for businesses that hire new employees. Republicans have said that if they pass the tax cut, which they support in principle, they may be adding to the deficit with little to show for the incentive. The Republicans have asked the Democratic members of Congress to locate an offsetting amount of spending to make the cut affordable.
Watch the clip of President Obama‘s speech where he encourages buying thingamajigs.